Form1099 Revisions for 2020

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  • Industry Best Practices
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  • Real-world Scenarios
Webinar Image
Date
17 December, 2020 (Thursday)
Time
12:00 PM PST | 03:00 PM EST
Duration
60 Minutes Minutes

Overview

The IRS has changed the way contract labor is reported. Starting with 2020, you will report contract labor on a Form 1099-NEC instead of Form 1099-MISC. This webinar will cover that change, along with other 1099 topics such as how to file, when to file, how to fix errors, and how to tell the difference between a contractor versus an employee. We will also cover the Form 1099-K and how it interacts with other types of 1099s, making it so payments subject to 1099-K reporting are not subject to reporting on other types of 1099s. This webinar will help you stay in compliance and avoid penalties.

Area Covered

  • New Form 1099-NEC
  • Who must file 1099s (of any type)
  • What transactions are reportable
  • Who receives 1099s
  • Deeper discussion of: medical payments, and legal payments
  • Filing issues: how to file, when to file, penalties for late filing
  • Contractor vs. employee: how to tell the difference and why it’s important
  • Reimbursements to contractors
  • Form 1099-K and its interaction with other types of 1099s

Why Should You Attend

The IRS has changed the way contract labor is reported. Starting with 2020, you will report contract labor on a Form 1099-NEC instead of Form 1099-MISC. This webinar will cover that change, along with other 1099 topics such as how to file, when to file, how to fix errors, and how to tell the difference between a contractor versus an employee. This webinar will help you stay in compliance and avoid penalties.

Who Will Benefit?

  • Business Owners
  • Bookkeepers
  • Office Managers
  • Accountants

Speaker

Jason Dinesen is the President of Dinesen Tax & Accounting, P.C., a public accounting firm in Indianola, Iowa. His practice focuses on accounting and bookkeeping services, tax preparation and business advising to individuals with a business focus ranging from home-based businesses to multistate corporations and not-for-profits. Dinesen has extensive experience working with a third-party administrator of retirement plans and is a prior presenter of multiple 1099 seminars. Dinesen majored in corporate communications with a minor in management from Simpson College

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